In 2023, the import value of battery-operated clock movements complete and assembled to Indonesia stood at 1,237.4 thousand US dollars. The year-on-year variation from 2022 to 2023 was 4.25%, indicating steady growth in recent years. The Compound Annual Growth Rate (CAGR) over the past five years was 2.9%, reflecting moderate expansion in the market.
From 2013 to 2023, the market demonstrated significant variability, with notable spikes in 2017 and consistent growth post-2019. Forecast data from 2024 to 2028 indicate a continued upward trend, with a forecasted 5-year CAGR of 3.03% and an overall growth rate of 16.09%.
Future trends to watch for include:
- Technological advancements in battery-operated clock movements
- Changes in import regulations and tariffs in Indonesia
- Shifts in consumer preferences towards digital and smart clocks
- Potential impacts of global supply chain disruptions on import volumes
